India VIX was down by 0.72% from 11.16 to 11.08 levels on Thursday. Volatility was slightly down and is at overall lower levels causing premiums to squeeze.
On the options front, the weekly maximum Call OI is placed at 18,800 and then towards 18,700 strikes while the maximum Put OI is placed at 18,700 and then towards 18,600 strikes.
Call writing is seen at 18,700 and then towards 18,800 strikes while Put writing is seen at 18,700 and then towards 18,500 strikes.
“Options data suggests a broader trading range in between 18450 to 18900 zones while an immediate trading range in between 18600 to 18800 zones,” Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
“Nifty formed a Bearish candle on the daily scale but has been making higher highs from the last three sessions on Thursday,” he said.
“Now, Nifty has to hold above 18,676 zones to witness an up move towards 18,777 and 18,888 zones while on the downside support exists at 18636 and 18,550 zones,” recommends Taparia.We have collated stocks from various experts for traders who have a short-term trading horizon:
Expert: Shrikant Chouhan, Head of Equity Research (Retail) at Kotak Securities told ETBureau
Tech Mahindra: Buy | Target Rs 1110| Stop Loss Rs 1065
Lupin: Buy| Target Rs 860| Stop Loss Rs 820
Jubilant FoodWorks: Buy| Target Rs 510| Stop Loss Rs 490
Bajaj Finserv: Buy| Target Rs 1520| Stop Loss Rs 1450
Expert: Kunal Bothra, Market Expert told ETNow
Dabur India: Buy| Target Rs 600| Stop Loss Rs 552
RIL: Buy| Target Rs 2605| Stop Loss Rs 2525
Havells India: Buy| Target Rs 1450| Stop Loss Rs 1300
Expert: Nooresh Merani, an independent technical analyst told ETNow
Indus Towers: Buy| Target Rs 170| Stop Loss Rs 160
BPCL: Buy| Target Rs 375| Stop Loss Rs 364
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
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